Consider the following statements:
1. The License Raj witnessed heavy regulation on industry.
2. The Industrial Policy Resolution of 1951 established restrictions by designating certain industries under Schedule A and Schedule B.
3. The government began pursuing economic liberalization in the 1980s which fixed systemic issues with the License Raj.
Which of the above statements is/ are correct?
1
1 Only
2
1 and 3
3
2 and 3
4
1, 2 and 3
5
Question Not Attempted